{"id":247409,"date":"2021-05-12T06:59:21","date_gmt":"2021-05-12T03:59:21","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/uniswap-flips-bitcoin-on-daily-revenue-and-its-more-impressive-than-you-think\/"},"modified":"2021-05-12T06:59:21","modified_gmt":"2021-05-12T03:59:21","slug":"uniswap-flips-bitcoin-on-daily-revenue-and-its-more-impressive-than-you-think","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/uniswap-flips-bitcoin-on-daily-revenue-and-its-more-impressive-than-you-think\/","title":{"rendered":"# Uniswap flips Bitcoin on daily revenue&#8230; and it\u2019s more impressive than you think"},"content":{"rendered":"<p>&#8220;<strong># Uniswap flips Bitcoin on daily revenue&#8230; and it\u2019s more impressive than you think  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvODA0MGRmZWYtYjBmYy00NTQ5LWI0ZGQtMDg4NzkxYjJhNTYwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Uniswap has surpassed Bitcoin in terms of daily fee generation for two days in a row.<\/p>\n<p>The fee flippening was observed by crypto industry blogger Evan Van Ness citing figures from CryptoFees, a website that compares the daily fees generated by the top blockchain networks.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Uniswap has fully flipped <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> in fees<\/p>\n<p>Wouldn&#8217;t surprise me if market caps were <\/p>\n<p>1) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a><br \/>2) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$UNI<\/a><br \/>3) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a><\/p>\n<p>in the future. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/iNUe7Jmw9c\">pic.twitter.com\/iNUe7Jmw9c<\/a><\/p>\n<p>\u2014 Evan Van Ness (@evan_van_ness) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/evan_van_ness\/status\/1392236768380993538?ref_src=twsrc%5Etfw\">May 11, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Uniswap founder Hayden Adams was quick to<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/haydenzadams\/status\/1392244792038502403\"> post about the milestone<\/a>:<\/p>\n<blockquote><p>\u201cUniswap v2 LP fees finally passed Bitcoin network fees on the 7-day average. Would be even higher if [cryptofees] tracked v3,\u201d<\/p><\/blockquote>\n<p>At the time of writing the website was reporting that Uniswap had generated $7.1 million in fees over the past 24 hours compared to Bitcoin\u2019s $4.6 million. <\/p>\n<p>Although a million critics im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely pointed to high gas fees on Uniswap being responsible, Adams pointed out revenue in question was actually sw<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ing fees paid to liquidity providers rather than gas fees. In fact he said gas fees in ETH generated by Uniswap are exponentially higher than Bitcoin\u2019s transaction fees.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This is swapping fees paid to LPs <\/p>\n<p>Not Ethereum network fees paid to Ethereum miners (the high fees people are upset about)<\/p>\n<p>\u2014 Hayden Adams  (@haydenzadams) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/haydenzadams\/status\/1392245983917056006?ref_src=twsrc%5Etfw\">May 11, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Uniswap has now flipped Bitcoin for two days in a row for liquidity provider fees according to the sit. The 7-day average for the decentralized exchange is also now higher than Bitcoin\u2019s, with $5.9 million compared to $5.3 million<\/p>\n<p>However Ethereum was streets ahead of both Uniswap and Bitcoin with a daily fee count of close to $90 million due to record high gas costs.<\/p>\n<p>In a separate<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/haydenzadams\/status\/1392304238282383367\"> tweet<\/a>, Adams stated that Ethereum layer-two scaling is badly needed, stating that today, Uniswap users alone have spent around $42 million on gas fees, adding \u201cthis is almost 5X what was spent on Bitcoin network fees during the same period\u201d.<\/p>\n<p>There was a flurry of complaints from Uniswap users when version 3 was rolled out on May 5 as gas fees appeared to be even higher than the previous iteration of the platform. A layer-two version based on Optimism is due to launch soon.<\/p>\n<p>Average gas prices have skyrocketed to a record high of $68 according to<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitinfocharts.com\/comparison\/ethereum-transactionfees.html#3m\"> Bitinfocharts<\/a>. Eth Gas Station is<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/etherscan.io\/gasTracker\"> reporting<\/a> that gas costs for more complex operations such as smart contract interactions or DEX token swaps are currently over $200.<\/p>\n<p>Many of the respondents to Adam\u2019s tweet asked when layer-two scaling would be rolled out for Uniswap. YouTuber Lark Davis was among them, stating:<\/p>\n<blockquote><p>\u201cGreat, now implement some layer 2 scaling so that Uniswap is actually usable by non-rich users. Polygon is ready and waiting. Aave, Curve, Sushi, Pool together all on it. Optimism is months away. Why wait?\u201d<\/p><\/blockquote>\n<p>However, Optimism may be closer than many realize for whitelisted projects including Uniswap. Another whitelisted DeFi project, Synthetix, has just completed an upgrade to enable Optimism trading, although there\u2019s no confirmation on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.synthetix.io\/the-alnair-release\/\">when it will go live.<\/a> <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"und\" dir=\"ltr\"> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qTCoxj3dhk\">pic.twitter.com\/qTCoxj3dhk<\/a><\/p>\n<p>\u2014 SynthaMan | Spartan.eth (@SNXified) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SNXified\/status\/1392183144703483904?ref_src=twsrc%5Etfw\">May 11, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/uniswap-flips-bitcoin-on-daily-revenue-and-it-s-more-impressive-than-you-think\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Uniswap flips Bitcoin on daily revenue&#8230; and it\u2019s more impressive than you think &#8221; Uniswap has surpassed Bitcoin in terms of daily fee generation for two days in a row. The fee flippening was observed by crypto industry blogger Evan Van Ness citing figures from CryptoFees, a website that compares the daily fees generated&#8230;<\/p>\n","protected":false},"author":1,"featured_media":247410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvODA0MGRmZWYtYjBmYy00NTQ5LWI0ZGQtMDg4NzkxYjJhNTYwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74891,88700],"class_list":["post-247409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ethereum","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/247409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=247409"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/247409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/247410"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=247409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=247409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=247409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}